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Medtronic (MDT) Reveals Promising Results From Evolut Trial
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Medtronic plc (MDT - Free Report) recently presented the complete two-year outcome from its Evolut Low Risk Trial virtually at the EuroPCR 2021 e-Course. This outcome demonstrated Medtronic’s Evolut transcatheter aortic valve replacement (TAVR) system’s strong performance compared to open-heart surgery in younger and healthier patients low-risk aortic stenosis.
The Trial at a Glance
This global randomized trial evaluated three valve generations of Medtronic, which are CoreValve, Evolut R and Evolut PRO valves in different sizes. Size of the patient pool remained more than 700 suffering from severe aortic stenosis but with low mortality risk with surgery (predicted risk of mortality being less than 3%).
The two-year data showed Evolut TAVR platform to be ‘non inferior’ to traditional open heart search for the primary endpoint of all-cause mortality or disabling stroke. It also accurately matched the Bayesian statistical analysis presented at the American College of Cardiology in 2019, thereby boosting clinical confidence in the TAVR system.
The Evolut TAVR platform comprises the Evolut R, Evolut PRO and Evolut PRO+ TAVR Systems, available in the United States and countries recognizing the CE-mark.
The favorable outcome of Medtronic’s landmark trial is expected to strengthen its Cardiac and Vascular business.
Non-Inferior to Open Heart surgery
The TAVR system has exhibited excellent haemodynamic (blood flow) performance compared to open heart surgery. It has also demonstrated lower death rates and fewer instances of heart failure hospitalizations and stroke compared to surgery. Prosthesis-patient mismatch and valve thrombosis rates also remained low at two years.
However, the company highlighted that observing long-term impact of TAVR in haemodynamics, pacemakers and prosthesis-patient mismatch is of prime importance.
Industry Prospects
Per a report in Grandviewresearch, the global aortic valve replacement device market size is anticipated to see a CAGR of 11.1% during the period 2018-2025. This growth is attributable to the fact that prevalence of valvular diseases worldwide has led to an increasing preference toward valve replacement surgeries, which are minimally-invasive in nature.
Recent Developments in Cardiac and Vascular Group
Medtronic reported that Cardiac and Vascular Group’s (CVG) third-quarter revenues for fiscal year 2021 declined 4% owing to resurgence in COVID-19 cases.
Among the company’s recent developments, in March 2021, Medtronic received FDA nod for its Harmony Transcatheter Pulmonary Valve (TPV), used to treat patients with a specific kind of congenital heart defect of the right ventricle that prevents blood to travel from the heart to the lungs. In the same month, Medtronic also announced the results of its REVERSE (REsynchronization reVErses Remodeling in Systolic left vEntricular dysfunction) clinical trial which assessed outcomes of cardiac resynchronization therapy (CRT) for patients with mild heart failure. The trial revealed that patients whose heart failure stabilizes with CRT live longer akin to patients whose condition improves with CRT.
In January, the company received FDA approval for its DiamondTemp Ablation (DTA) system, which treats patients with atrial fibrillation, who are usually unresponsive to drug therapy.
Share Price Performance
The stock has outperformed its industry over the past year. It has grown 28.1% compared to the industry’s 14.5% growth.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the medical instruments industry include PetIQ, Inc. (PETQ - Free Report) , Envista Holdings Corporation (NVST - Free Report) and National Vision Holdings, Inc. (EYE - Free Report) .
Envista Holdings, which carries a Zacks Rank # 2 (Buy), has a long-term earnings growth rate of 26.40 %.
National Vision, which carries a Zacks Rank # 2, has a long-term earnings growth rate of 23.00%.
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Medtronic (MDT) Reveals Promising Results From Evolut Trial
Medtronic plc (MDT - Free Report) recently presented the complete two-year outcome from its Evolut Low Risk Trial virtually at the EuroPCR 2021 e-Course. This outcome demonstrated Medtronic’s Evolut transcatheter aortic valve replacement (TAVR) system’s strong performance compared to open-heart surgery in younger and healthier patients low-risk aortic stenosis.
The Trial at a Glance
This global randomized trial evaluated three valve generations of Medtronic, which are CoreValve, Evolut R and Evolut PRO valves in different sizes. Size of the patient pool remained more than 700 suffering from severe aortic stenosis but with low mortality risk with surgery (predicted risk of mortality being less than 3%).
The two-year data showed Evolut TAVR platform to be ‘non inferior’ to traditional open heart search for the primary endpoint of all-cause mortality or disabling stroke. It also accurately matched the Bayesian statistical analysis presented at the American College of Cardiology in 2019, thereby boosting clinical confidence in the TAVR system.
The Evolut TAVR platform comprises the Evolut R, Evolut PRO and Evolut PRO+ TAVR Systems, available in the United States and countries recognizing the CE-mark.
The favorable outcome of Medtronic’s landmark trial is expected to strengthen its Cardiac and Vascular business.
Non-Inferior to Open Heart surgery
The TAVR system has exhibited excellent haemodynamic (blood flow) performance compared to open heart surgery. It has also demonstrated lower death rates and fewer instances of heart failure hospitalizations and stroke compared to surgery. Prosthesis-patient mismatch and valve thrombosis rates also remained low at two years.
However, the company highlighted that observing long-term impact of TAVR in haemodynamics, pacemakers and prosthesis-patient mismatch is of prime importance.
Industry Prospects
Per a report in Grandviewresearch, the global aortic valve replacement device market size is anticipated to see a CAGR of 11.1% during the period 2018-2025. This growth is attributable to the fact that prevalence of valvular diseases worldwide has led to an increasing preference toward valve replacement surgeries, which are minimally-invasive in nature.
Recent Developments in Cardiac and Vascular Group
Medtronic reported that Cardiac and Vascular Group’s (CVG) third-quarter revenues for fiscal year 2021 declined 4% owing to resurgence in COVID-19 cases.
Among the company’s recent developments, in March 2021, Medtronic received FDA nod for its Harmony Transcatheter Pulmonary Valve (TPV), used to treat patients with a specific kind of congenital heart defect of the right ventricle that prevents blood to travel from the heart to the lungs. In the same month, Medtronic also announced the results of its REVERSE (REsynchronization reVErses Remodeling in Systolic left vEntricular dysfunction) clinical trial which assessed outcomes of cardiac resynchronization therapy (CRT) for patients with mild heart failure. The trial revealed that patients whose heart failure stabilizes with CRT live longer akin to patients whose condition improves with CRT.
In January, the company received FDA approval for its DiamondTemp Ablation (DTA) system, which treats patients with atrial fibrillation, who are usually unresponsive to drug therapy.
Share Price Performance
The stock has outperformed its industry over the past year. It has grown 28.1% compared to the industry’s 14.5% growth.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the medical instruments industry include PetIQ, Inc. (PETQ - Free Report) , Envista Holdings Corporation (NVST - Free Report) and National Vision Holdings, Inc. (EYE - Free Report) .
PetIQ, currently sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 25.00%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Envista Holdings, which carries a Zacks Rank # 2 (Buy), has a long-term earnings growth rate of 26.40 %.
National Vision, which carries a Zacks Rank # 2, has a long-term earnings growth rate of 23.00%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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